Consolidated financial statement of the Eurosystem as at 17 July 2009

21 July 2009

Items not related to monetary policy operations

In the week ending 17 July 2009 gold and gold receivables (asset item 1) remained unchanged.

The net position of the Eurosystem in foreign currency (asset items 2 and 3 minus liability items 7, 8 and 9) decreased by EUR 7.2 billion to EUR 201.5 billion on account of customer and portfolio transactions and US dollar liquidity-providing transactions.

Extraordinary transactions

Value date Type of transaction Maturing amount New amount
15 July 2009 7-day Swiss franc liquidity-providing EUR/CHF foreign exchange swap CHF 31.1 billion CHF 21.6 billion
16 July 2009 7-day US dollar liquidity-providing reverse transaction USD 43.1 billion USD 43.8 billion
16 July 2009 84-day US dollar liquidity-providing reverse transaction USD 12.2 billion USD 3.1 billion

The liquidity-providing transactions were conducted by the Eurosystem in connection with the temporary reciprocal currency arrangements (swap lines) that the European Central Bank has with the Swiss National Bank and the Federal Reserve System. The EUR/CHF foreign exchange swap had no effect on the net position of the Eurosystem in foreign currency.

The holdings by the Eurosystem of securities other than those held for monetary policy purposes (asset item 7.2) decreased by EUR 1.5 billion to EUR 300.1 billion. Banknotes in circulation (liability item 1) increased by EUR 0.1 billion to EUR 770.4 billion. Liabilities to general government (liability item 5.1) increased by EUR 7.8 billion to EUR 132.4 billion.

Items related to monetary policy operations

The Eurosystem’s net lending to credit institutions (asset item 5 minus liability items 2.2, 2.3, 2.4, 2.5 and 4) decreased by EUR 40.5 billion to EUR 612 billion. On Wednesday, 15 July 2009, a main refinancing operation of EUR 106.4 billion matured and a new one of EUR 100.3 billion was settled.

Recourse to the marginal lending facility (asset item 5.5) was EUR 0.1 billion (approximately the same as in the previous week), while recourse to the deposit facility (liability item 2.2) was EUR 189.9 billion (compared with EUR 155.5 billion in the preceding week).

The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) increased by EUR 1 billion to EUR 1.1 billion in the week ending 17 July 2009.

Current accounts of euro area credit institutions

As a result of all transactions, the current account position of credit institutions with the Eurosystem (liability item 2.1) decreased by EUR 42.3 billion to EUR 229.5 billion.

Assets (EUR millions) Balance Difference compared with last week due to transactions
Totals/sub-totals may not add up, due to rounding
1 Gold and gold receivables 232,127 0
2 Claims on non-euro area residents denominated in foreign currency 159,624 −742
2.1 Receivables from the IMF 16,847 55
2.2 Balances with banks and security investments, external loans and other external assets 142,777 −796
3 Claims on euro area residents denominated in foreign currency 62,878 −6,086
4 Claims on non-euro area residents denominated in euro 20,628 1,117
4.1 Balances with banks, security investments and loans 20,628 1,117
4.2 Claims arising from the credit facility under ERM II 0 0
5 Lending to euro area credit institutions related to monetary policy operations denominated in euro 801,888 −6,120
5.1 Main refinancing operations 100,294 −6,112
5.2 Longer-term refinancing operations 701,456 3
5.3 Fine-tuning reverse operations 0 0
5.4 Structural reverse operations 0 0
5.5 Marginal lending facility 94 −41
5.6 Credits related to margin calls 44 30
6 Other claims on euro area credit institutions denominated in euro 22,761 −256
7 Securities of euro area residents denominated in euro 301,197 −521
7.1 Securities held for monetary policy purposes 1,079 1,013
7.2 Other securities 300,118 −1,534
8 General government debt denominated in euro 36,230 0
9 Other assets 238,380 −590
Total assets 1,875,712 −13,197
Liabilities (EUR millions) Balance Difference compared with last week due to transactions
Totals/sub-totals may not add up, due to rounding
1 Banknotes in circulation 770,379 104
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 419,415 −7,938
2.1 Current accounts (covering the minimum reserve system) 229,528 −42,287
2.2 Deposit facility 189,873 34,338
2.3 Fixed-term deposits 0 0
2.4 Fine-tuning reverse operations 0 0
2.5 Deposits related to margin calls 13 11
3 Other liabilities to euro area credit institutions denominated in euro 278 0
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 142,772 10,191
5.1 General government 132,430 7,753
5.2 Other liabilities 10,342 2,437
6 Liabilities to non-euro area residents denominated in euro 109,496 −13,730
7 Liabilities to euro area residents denominated in foreign currency 3,706 −1,125
8 Liabilities to non-euro area residents denominated in foreign currency 11,874 1,529
8.1 Deposits, balances and other liabilities 11,874 1,529
8.2 Liabilities arising from the credit facility under ERM II 0 0
9 Counterpart of special drawing rights allocated by the IMF 5,436 0
10 Other liabilities 151,598 −2,227
11 Revaluation accounts 187,797 0
12 Capital and reserves 72,961 0
Total liabilities 1,875,712 −13,197

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